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A scholarship provider has $200,000 which she will invest today to fund a scholarship forever. She expects to earn 12% on her money each year.
A scholarship provider has $200,000 which she will invest today to fund a scholarship forever. She expects to earn 12% on her money each year. If she wants to begin paying out the scholarship starting today, what will the annual scholarship payment be?
Group of answer choices
$36,000.00
$21,428.57
$21,120.00
$1,866,666.67
$32,287.36
$24,000.00
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